In August, the companies announced that Siemens (ETR:SHL) would acquire Varian (NYSE:VAR) in a $16.4 billion deal as the companies sought to create “the most comprehensive” portfolio of cancer care offerings in the industry. Varian shareholders approved the deal in October and a number of high-level personnel moves followed, including the planned retirement of Varian CEO Dow Wilson and the resignation of Varian CFO J. Michael Bruff.
Siemens’ acquisition of Varian seeks to build upon a strategic partnership called EnVision, which aims to create a digital, diagnostic and therapeutic ecosystem that includes treatment management. The companies plan to utilize AI-assisted analytics to advance their data-driven precision care while redefining cancer diagnosis, care delivery and post-treatment survivorship.
“With the completion of this transaction, we are now best-positioned to take two leaps together: a leap in cancer care and a leap in our impact on healthcare overall,” Siemens Helathineers CEO Dr. Bernd Montag said. “Together, we are establishing a strong and trusted partner capable of supporting customers and patients along the entire cancer care continuum as well as through all major clinical pathways.”